The Fed’s biggest fear has always been having to choose between fighting inflation and protecting jobs. Friday’s employment report brought that dilemma a step closer. “Let’s not overreact to one month’s numbers, but an environment in which inflation is rising and the unemployment rate is also rising, that’s not any fun for the central bank,” said Chicago Fed President Austan Goolsbee. https://www.wsj.com/economy/central-banking/jobs-report-oil-surge-leave-fed-gritting-its-teeth-b0f1b7c6?st=1sMDBE&reflink=desktopwebshare_permalink(Nick Timiraos)